Trade Aptitude

Results of Tuesday’s Best S&P Turning Points: The suggested buy @ 3863.50 stopped out. The breakout short from that level ran for 18.75-points. 

Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets): 

No good buy level nearby. Short 3875.00 stop 3880.25.  

The World Sentiment Index: (+100/-100) DUMPS from +70 to +21 in a world of mixed sentiment. Historically the close was higher than the open 55% of the time. 

Catalysts: Maybe Pending Home Sales @ 10:00 but not likely. Mood is cautious. 

Quick Tip: Know Your Next Move

The volume levels suggested in this blog are two of the many on our charts. They are chosen for you, and I think they are the “best” for that day. But I’m not always right. In fact, I’m probably wrong half the time. Kind of like trades. 

Yesterday’s buy level failed. The breakout short was a modest winner. Cover your loss and then some. 

To execute the short breakout, it’s best to know you will in advance. If you wait until your long entry stops out to decide, you may be affected by the loss. Knowing your next “move,” like a skilled chess player, sets your mind in professional trader mode. 

If you’re looking to join a trading team that uses evidence-based rules across multiple strategies, click here for a no-risk 30-day offer. You can learn the strategies, trade them in simulation mode, and pick which resonates with your personality, if not all of them. This offer expires January 2nd. Make your move!

Trade Fearlessly,

Mike Siewruk 

P.S. Feel free to share this blog with all your trading buddies.